By Paul Sankey
Published on December 17, 2024 at 8:58 AM
Meeting Kinder Morgan last week in Houston, with my old mate, IR and corporate VP Peter Staples (my other old mate CEO Kim Dang was in NY for a couple of conferences) I perused the just-released guidance for 2025 and made the following comment: “So KMI stock is on 22x price-earnings, based on your guidance for next year of $1.27 EPS. Your dividend yield is down towards 4% (stock has ripped), and you just announced …
Read More
By Paul Sankey
Published on November 1, 2024 at 7:33 AM
In the US suburbs, those Halloween avenues, a “yard sale” is an innocent family rite of passage where the garage is cleared, and in the excitement you try to dump as many of the kids grown-out-of toys. In our world, is the equivalent of a major oil company announcing yet another disposal target. But in skiing, a “yard sale” describes a level of wipe out so spectacular that gear is smashed off the skier, poles, …
Read More
By Paul Sankey
Published on October 31, 2024 at 8:20 AM
The two largest US natural gas E&Ps reported this week, which was interesting. Our observation would be that these companies have gone from buying volatility (hedging their production) to selling volatility (holding spare capacity of unproduced but quickly available natural gas supply) and hence will dampen volatility in US natgas. “Why have oil prices not soared on wild Middle East turmoil, oil should go to $200/bbl?” question the oil tourists. No, spare capacity massively dampens …
Read More
